2016 Q4 Form 10-Q Financial Statement

#000147620416000087 Filed on November 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $66.33M $65.27M $61.82M
YoY Change 6.74% 5.58% 23.57%
Cost Of Revenue $20.80M $19.10M $19.50M
YoY Change 8.9% -2.05%
Gross Profit $45.50M $46.10M $42.30M
YoY Change 5.57% 8.98%
Gross Profit Margin 68.6% 70.63% 68.42%
Selling, General & Admin $8.100M $7.700M $2.900M
YoY Change 0.0% 165.52%
% of Gross Profit 17.8% 16.7% 6.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.00M $26.00M $25.00M
YoY Change 8.43% 4.0%
% of Gross Profit 59.34% 56.4% 59.1%
Operating Expenses $35.90M $54.31M $49.00M
YoY Change 6.21% 10.83% 15.04%
Operating Profit $9.600M -$8.209M -$6.700M
YoY Change 3.23% 22.52% -190.1%
Interest Expense -$8.600M $8.504M $7.818M
YoY Change -15.69% 8.77% 44.19%
% of Operating Profit -89.58%
Other Income/Expense, Net $6.100M $33.00K $242.0K
YoY Change 6000.0% -86.36% 87.6%
Pretax Income $3.700M $2.500M $5.200M
YoY Change -268.18% -51.92%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0% 0.0%
Net Earnings $3.689M $2.464M $5.183M
YoY Change -270.47% -52.46% 141.86%
Net Earnings / Revenue 5.56% 3.78% 8.38%
Basic Earnings Per Share
Diluted Earnings Per Share $0.06 $0.04 $0.08
COMMON SHARES
Basic Shares Outstanding 184.3M shares 184.6M shares 185.3M shares
Diluted Shares Outstanding 187.4M shares 188.1M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.200M $21.40M $19.80M
YoY Change -79.85% 8.08%
Cash & Equivalents $8.224M $21.36M $19.75M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $2.986M
Receivables
Other Receivables
Total Short-Term Assets $8.200M $21.40M $19.80M
YoY Change -79.85% 8.08%
LONG-TERM ASSETS
Property, Plant & Equipment $2.250B $2.191B $2.133B
YoY Change 6.22% 2.74%
Goodwill $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $41.70M $6.400M $24.50M
YoY Change 107.46% -73.88%
Total Long-Term Assets $2.372B $2.263B $2.204B
YoY Change 8.53% 2.67%
TOTAL ASSETS
Total Short-Term Assets $8.200M $21.40M $19.80M
Total Long-Term Assets $2.372B $2.263B $2.204B
Total Assets $2.380B $2.285B $2.224B
YoY Change 6.91% 2.72% 9.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $56.00M $62.70M $53.80M
YoY Change 14.99% 16.54%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $56.00M $62.70M $53.80M
YoY Change 14.99% 16.54%
LONG-TERM LIABILITIES
Long-Term Debt $1.056B $946.0M $781.2M
YoY Change 23.66% 21.1%
Other Long-Term Liabilities $43.30M $41.60M $41.90M
YoY Change 7.71% -0.72%
Total Long-Term Liabilities $1.100B $987.6M $823.1M
YoY Change 22.95% 19.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $56.00M $62.70M $53.80M
Total Long-Term Liabilities $1.100B $987.6M $823.1M
Total Liabilities $1.155B $1.050B $876.9M
YoY Change 23.64% 19.78% 46.24%
SHAREHOLDERS EQUITY
Retained Earnings -$438.2M -$410.6M -$290.8M
YoY Change 35.33% 41.22% 80.81%
Common Stock $1.851M $1.850M $1.855M
YoY Change 2.1% -0.27% 2.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.201B $1.210B $1.291B
YoY Change
Total Liabilities & Shareholders Equity $2.380B $2.285B $2.224B
YoY Change 6.91% 2.72% 9.84%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $3.689M $2.464M $5.183M
YoY Change -270.47% -52.46% 141.86%
Depreciation, Depletion And Amortization $27.00M $26.00M $25.00M
YoY Change 8.43% 4.0%
Cash From Operating Activities $17.90M $28.20M $27.40M
YoY Change 16.99% 2.92%
INVESTING ACTIVITIES
Capital Expenditures $9.200M $6.600M $5.600M
YoY Change 31.43% 17.86%
Acquisitions
YoY Change
Other Investing Activities -$33.30M -$37.20M $1.500M
YoY Change 3600.0% -2580.0%
Cash From Investing Activities -$42.50M -$43.80M -$4.100M
YoY Change 437.97% 968.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 46.40M 30.50M -36.40M
YoY Change 243.7% -183.79%
NET CHANGE
Cash From Operating Activities 17.90M 28.20M 27.40M
Cash From Investing Activities -42.50M -43.80M -4.100M
Cash From Financing Activities 46.40M 30.50M -36.40M
Net Change In Cash 21.80M 14.90M -13.10M
YoY Change 4.31% -213.74%
FREE CASH FLOW
Cash From Operating Activities $17.90M $28.20M $27.40M
Capital Expenditures $9.200M $6.600M $5.600M
Free Cash Flow $8.700M $21.60M $21.80M
YoY Change 4.82% -0.92%

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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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-1981000 USD
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-888000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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-2762000 USD
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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1950000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Other Noncash Income Expense
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us-gaap Other Noncash Income Expense
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-189000 USD
CY2015Q3 us-gaap Other Nonoperating Income Expense
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242000 USD
us-gaap Other Nonoperating Income Expense
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117000 USD
CY2016Q3 us-gaap Other Nonoperating Income Expense
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33000 USD
us-gaap Other Nonoperating Income Expense
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CY2015Q3 us-gaap Other Real Estate Revenue
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353000 USD
us-gaap Other Real Estate Revenue
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1062000 USD
CY2016Q3 us-gaap Other Real Estate Revenue
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243000 USD
us-gaap Other Real Estate Revenue
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730000 USD
us-gaap Payments For Capital Improvements
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14944000 USD
us-gaap Payments For Capital Improvements
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16936000 USD
us-gaap Payments For Repurchase Of Common Stock
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32535000 USD
us-gaap Payments For Repurchase Of Common Stock
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7280000 USD
us-gaap Payments Of Dividends Common Stock
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44291000 USD
us-gaap Payments Of Dividends Common Stock
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47535000 USD
us-gaap Payments Of Dividends Minority Interest
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1211000 USD
us-gaap Payments Of Dividends Minority Interest
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1260000 USD
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6654000 USD
us-gaap Payments Of Loan Costs
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2461000 USD
us-gaap Payments To Acquire Commercial Real Estate
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87755000 USD
us-gaap Payments To Acquire Commercial Real Estate
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132266000 USD
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CY2015Q4 us-gaap Preferred Stock Shares Authorized
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us-gaap Proceeds From Payments For Other Financing Activities
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0 USD
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0 USD
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us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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us-gaap Profit Loss
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us-gaap Profit Loss
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Revenues
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Revenues
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Revenues
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us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
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us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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us-gaap Stock Issued During Period Value Issued For Services
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us-gaap Stock Redeemed Or Called During Period Value
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CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Straight Line Rent
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CY2015Q3 us-gaap Tenant Reimbursements
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us-gaap Tenant Reimbursements
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TenantReimbursements
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us-gaap Tenant Reimbursements
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CY2015Q4 us-gaap Unamortized Debt Issuance Expense
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8600000 USD
CY2015Q4 us-gaap Unamortized Debt Issuance Expense
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8564000 USD
CY2016Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
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CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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2786000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2693000 shares
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2785000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2785000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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183471000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Reclassifications</font><font style="font-family:inherit;font-size:10pt;">&#8212;The following line item on our consolidated balance sheets as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, was reclassified to conform to the current year presentation:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Acquired Intangible Lease Assets was separated into Acquired Above-Market Lease Assets and Acquired In-Place Lease Assets.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following line item on our consolidated statement of cash flows for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">September 30,</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;"> was reclassified to conform to the current year presentation:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Change in Fair Value of Derivative was reclassified to Other.</font></div></td></tr></table></div>

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